Neverdie Coins, Etherium and Cryptocurrency discussion

crypto will never replace standard currency, as the world becomes closer we will all standardise to one regulated currency, which is likely the US$, Euro as badly and half arsed it is, is the start
 
My problem with Cryptocurrency is that when you see big signs everywhere BUY Cryptocurrency for me its a product not a currency. Yeah you can exchange back for real money, but so you can with potatoes. You can say that potatoes are currency (not crypto sadly) you can easily buy some, and with some effort you can exchange them for money for a profit or loss. And lie 1 - you can not hack Cryptocurrency, yeah but you can hack people/sites/wallets and steal Cryptocurrency. Lie 2 - There are limited number so the price can only go up, yeah but every day there is new Cryptocurrency more or less devaluating the value of the current.
 
My problem with Cryptocurrency is that when you see big signs everywhere BUY Cryptocurrency for me its a product not a currency. Yeah you can exchange back for real money, but so you can with potatoes. You can say that potatoes are currency (not crypto sadly) you can easily buy some, and with some effort you can exchange them for money for a profit or loss. And lie 1 - you can not hack Cryptocurrency, yeah but you can hack people/sites/wallets and steal Cryptocurrency. Lie 2 - There are limited number so the price can only go up, yeah but every day there is new Cryptocurrency more or less devaluating the value of the current.

My concern is how easy would it be to swap the investment back into real money. Who actually pays that bill, or makes that real dollar transaction.

Anyway I think crypto has a use in a game environment as a tool, a bit like say buying bounded armour. You pay for something, and if you never see your money again then at least you've had use out of it. The real issue is the huge varying cost to acquire "what you might need".

I'm not entirely sure how the ND teleportor coins will work, if you buy a supply and they're consumables, or if they're sellable/tradable.....I don't know.

But's let's say there were 10000 teleporter coins in total, and you invested in some for trading in-game for use, and those coins "owned by you" were returned to your wallet once used by other players......I could see that working. I don't think it works like that though, I'm just suggesting something that could work.

It's a brave move by ND and I wish him well. It's just not something I would want to throw thousands of dollars at right now, when there's in game deeds as an investment option fixed to the USD.

Rick
 
i always wonder what the mining achives in the greater story, surely the coins are put there as a reward for something and using the power of multiple computers to solve something, much like folding? what are the miners solving, cure for cancer, space travel, improved weapon research, NKs missile systems? and what does the giver of coins gain
 
Last edited:
Isn't today the day coins go live or something, 1st of August :scratch2:
 
Isn't today the day coins go live or something, 1st of August :scratch2:

https://www.coinschedule.com/projects/1173/neverdie-ico.html

says end is 31st august

but

https://neverdie.io/

says ended today

great organisation? or extended
EDIT from comments
Avatar
Coinschedule - Maj Mod JaredKushner • 11 hours ago

Hi Jared. No your not going mad, the Neverdie coin ICO closed. We got a request to extend the listing as they are doing a ICO for their Teleport token. Maybe we should start a new listing for it. I am waiting for more information from them regarding this.

when you click buy coins, you get a list of about 20 new coins and look at the new avatar for this game, it did also grind my work pc to a near stop and can't be accesed via mobile
 
Last edited:
i always wonder what the mining achives in the greater story, surely the coins are put there as a reward for something and using the power of multiple computers to solve something, much like folding? what are the miners solving, cure for cancer, space travel, improved weapon research, NKs missile systems? and what does the giver of coins gain
You got it backwards I'm afraid. The reason why you need processing power is to make it secure, nothing else. With online currency obviously the 1st problem is everybody will try to hack it. So how do you create a security that can outlast constant attacks in the world where available processing power constantly increases every year?

Solution, instead of trying to make unbreakable encryption, make it not profitable to spend your processing power to break the system. If it's cheaper (processing power wise) to create value (to mine crypto coins) than to try to take away already existing coins from someone else then the whole hacking thing simply loses it's appeal. Everything ingenious is also very simple... Just a little bit thinking outside the box. :)

However, that's all about the core of the system, the block chain itself. To actually use a currency you need more than just the currency itself. You also need a whole lot of related financial services and that's where all the problems arise.
 
You got it backwards I'm afraid. The reason why you need processing power is to make it secure, nothing else. With online currency obviously the 1st problem is everybody will try to hack it. So how do you create a security that can outlast constant attacks in the world where available processing power constantly increases every year?

Solution, instead of trying to make unbreakable encryption, make it not profitable to spend your processing power to break the system. If it's cheaper (processing power wise) to create value (to mine crypto coins) than to try to take away already existing coins from someone else then the whole hacking thing simply loses it's appeal. Everything ingenious is also very simple... Just a little bit thinking outside the box. :)

However, that's all about the core of the system, the block chain itself. To actually use a currency you need more than just the currency itself. You also need a whole lot of related financial services and that's where all the problems arise.

doesnt seem to work that well though when looking at the hundreds of millions of ccs stolen in the last month alone...
guess how long you would need stealing that amount of real currencies...
 
doesnt seem to work that well though when looking at the hundreds of millions of ccs stolen in the last month alone...
guess how long you would need stealing that amount of real currencies...
Less than a month, I suppose. It's only an educated guess ofc, as the incidents won't usually leave the walls of the bank involved we'll never see the true statistics. Then again considering the total amount of cash involved and the rare cases the info does leak out to the public... well, I'd rather think that number per month is very conservative.

Altho normal banks most likely beat crypto in the absolute numbers, that comparison is essentially unfair. It's like comparing a sea with a glass of tea. Yes ofc the supporting financial services for crypto currencies are real messy. This is a simple fact. The direct result of the self regulating system where the competition constantly tries to push the companies into providing those services as cheaply as possible. No wonder the bottom end constantly keeps dropping off...

Trying to marry the old banking system style financial services with the decentralized currency doesn't seem to work so well indeed.
We need the next Satoshi Nakamoto to provide the innovative fundamental ideas how to build the new decentralized services around the decentralized currency... or maybe the mess with all the new programmable cryptos is the incubation chamber for those ideas and it's all happening right now before our very eyes? Maybe it has already happened but most of us in all this white noise haven't realized yet which one of em has actually made it? Wouldn't it be nice to be among the first who will realize that?
There's always endless possibilities out there and some of em can make you filthy rich... Just sayin'. :smoke:
 
Last edited:
To small? Consider economies of scale or scale of economies. PED is an entire currency.... just saying.

Ped is essentially USD. And yea its too small, this ICO is a complete joke and anyone dumb enough to buy it is going to get burned. This is a poor idea with virtually no growth potential.
 
My problem with Cryptocurrency is that when you see big signs everywhere BUY Cryptocurrency for me its a product not a currency. Yeah you can exchange back for real money, but so you can with potatoes. You can say that potatoes are currency (not crypto sadly) you can easily buy some, and with some effort you can exchange them for money for a profit or loss. And lie 1 - you can not hack Cryptocurrency, yeah but you can hack people/sites/wallets and steal Cryptocurrency. Lie 2 - There are limited number so the price can only go up, yeah but every day there is new Cryptocurrency more or less devaluating the value of the current.

Number 2, thats like saying the stock market is devaluing itself because more and more companies are going public. Crypto is speculative, and the coin limit is just some stupid meme from bulls. It's really just necessary to prevent a coin from devaluing itself.
 
Number 2, thats like saying the stock market is devaluing itself because more and more companies are going public. Crypto is speculative, and the coin limit is just some stupid meme from bulls. It's really just necessary to prevent a coin from devaluing itself.

thats somethign totally different though. a company has a value. this value contaisn of property, workers, patents etc etc. each company is unique and does something different
now those cryptos are all basically the same. and they dont have ANY calue at all. its the biggest investments bubble in the history of money. and when it will burst i will be happy that i didnt put money into that obvious waste
if you like to pay much for encrypted bits i can send you some for a lot less if you like,
 
I put a support case in a while back (almost two months ago) when these first came out asking about the legality of them and if they would be incorporated into EU. I just received the following reply.

thank you for your message.

Entropia Universe will only accept one currency, PED. We have also come across the information about Neverdie Coins, but rest assure, they are not going to be a part of Entropia Universe.

Kind regards,
Max | Entropia Universe Support Team

I just thought I would pass along the word.

Thank you,
 
I put a support case in a while back (almost two months ago) when these first came out asking about the legality of them and if they would be incorporated into EU. I just received the following reply.



I just thought I would pass along the word.

Thank you,

in other words: ND is full of crap.
 
This applies to everything we call money nowadays. You are made to believe by force ("legal tender"). You can be disowned by a click of a button, if the powers that be decide to do so (cf. how the verb "to cyprus" got into vernacular). Inflation does the same thing gradually, and it's by design also. All that at least isn't quite as easy on a blockchain where power is distributed by principle. Which is why it's more than a little uncertain that any country will give it official blessing.

Interesting development in light of the above:
https://medium.com/e-residency-blog/estonia-could-offer-estcoins-to-e-residents-a3a5a5d3c894
 
question: can they "mine" unlimited bitcoins? or are they capped somewhere? cos when its unlimited then the supply will one day outperform the demand and lets the bubble burst quite fast.

using google for 10 seconds could have told you the answer, but let me help you:

what-is-bitcoin-8-638.jpg
 
The gold rush is on!

Now all I need to do is make some denim pants to sell to all the miners and call them Levi's... or something like that.
 
he asks about bitcoin and you send him an introduction to ethereum? maybe you should read an introduction yourself :silly2:

what is ethereum max supply? it's block reward? are transactions irreversible? DAO?

thx for the good laugh in the morning :laugh:

I meant an introduction to those who are not familiar with the whole topic of cryprocurrencies and to whom the specific differences mean little at this time. It mentions mainly applications, you won't find those in a Bitcoin-focused article. Whitepapers are overwhelming to most. You are ahead of the crowd and a bit carried away by excitement ;)
 
I meant an introduction to those who are not familiar with the whole topic of cryprocurrencies and to whom the specific differences mean little at this time. It mentions mainly applications, you won't find those in a Bitcoin-focused article. Whitepapers are overwhelming to most. You are ahead of the crowd and a bit carried away by excitement ;)

no offense, but i meant that you sent him into the wrong direction. it's like in EU, most times you receive your introduction from people who have little idea themselves.
 
btw regarding little idea, that also includes myself :tongue2:

you're right that it probably depends on each individual's usecase. my 2 cents:

bitcoin:
mainly to store and exchange value
highly decentralized
controlled rather by its users/investors than its developers
based on proof of work, not likely to ever change without consensus
limited supply = better than fiat
scaling problems being fixed by world's most skilled group of developers
can't be mined without specialized hardware anymore
quite secure if you follow some basic principles
questioned by banks and media

ethereum:
rather a peer to peer vendingmachine or supercomputer
highly centralized
controlled rather by its developers than its users/investors
is planned to switch to proof of stake (worth a discussion on its own)
unlimited supply = same as fiat
scaling problems becoming worse every ICO, no idea how vitalik will fix it
can still be mined with GPUs
was hacked already which lead to a fork/split
pushed by banks and media

both is risky, so please educate yourself and decide for yourself - and only because something is/was scammy doesn't mean people aren't gonna buy or use it.

have a nice day! :smoke:
 
i think the people that are happiest about crypto"currencies" are the hackers. it never was easier grabbing hundreds of millions USD worth of stuff and basically leave zero trace and be 100% secure. try to rob a bank or a casino grabbing that amount of money... or even hacking a bank is harder as its easier traceable. but as CCs want to be untraceable it makes it really easy for hacker. and if they start making it easier to trace then most of the illegal activities will switch over to something else resulting in a huge drop of demand.
 
i think the people that are happiest about crypto"currencies" are the hackers.

do you really think so? check this out: https://www.theguardian.com/technology/2017/jul/27/russian-criminal-mastermind-4bn-bitcoin-laundering-scheme-arrested-mt-gox-exchange-alexander-vinnik

most coins are in fact very transparent, everyone can check the blockchain and its transactions, yes even governments, and deep analysis can be done. see here: https://www.ethnews.com/new-developments-surface-in-mtgox-hacking-case-after-arrest-in-greece

analysis of hacked crypto exchanges funds movements:
WizSec-07-26-2017.png


if you want full anonymity, like cryptonotes implement it for example, there is one problem - if something goes wrong and someone receives 100 billion coins by hack, because of a bug, or a scamming coin developer, noone will ever know about it. don't forget what game we play, bugs are quite easy to develope :laugh:

something like this maybe: https://en.bitcoin.it/wiki/Value_overflow_incident

this is why many people trust bitcoin, because of its transparency, its professional development and its pseudo-anonymity. if you don't expose your addresses to anyone, and/or change them frequently, chances are high noone will ever be able to know they are yours.

sure, everything can be abused. still it's not easy to get rid of insane amounts, like it's not easy to move a ton of gold or millions of dollars. most hackers prefer creditcard fraud imo, it's just too easy...

ps: i think there are more good "hackers" than mad ones.
 
Last edited:
Back
Top